They're paying for a mascot. It's a marketing expense. $1.2 million per year is nothing when one considers the increased ease of hiring young grunts who do the ugly but necessary work, and who do it well because they think that if they pay their dues, they'll be picked to do the upper-caste "interesting" work, which of course they won't.
In those jobs, you don't even have to show up (although most of themdo, in order to stay relevant but also because these ex-academics tend to be very driven people). You're getting paid well for letting the company say you work there, because this makes it easier for the rest of the company to fill out their chain gangs of early-20s Jira jockeys who'll be used for three years and then PIP-raped because "yellow zone".
In those jobs, you don't even have to show up (although most of themdo, in order to stay relevant but also because these ex-academics tend to be very driven people). You're getting paid well for letting the company say you work there, because this makes it easier for the rest of the company to fill out their chain gangs of early-20s Jira jockeys who'll be used for three years and then PIP-raped because "yellow zone".